Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Global IME Bank Limited and Shangrila Development Bank Limited have signed a memorandum of understanding (MoU) to provide non-fund-based banking facilities to customers of Shangrila Development Bank.
The MoU was officially endorsed by Surendra Raj Regmi, Chief Executive Officer of Global IME Bank, and Suyog Shrestha, CEO of Shangrila Development Bank. Under the agreement, Global IME Bank will offer a range of non-fund-based services, including letters of credit, bank guarantees, document against payment (D/P), document against acceptance (D/A), and trade transaction banking to meet the financial needs of Shangrila Development Bank clients.
Global IME Bank, widely recognized for its excellence in the banking sector, has been honored with the Global Finance Best Bank Award for 2024 and 2025, as well as the Euro Money Award for Excellence 2024. The bank has received multiple accolades from both national and international organizations for its contributions to banking and financial services in Nepal.
As Nepal’s first private commercial bank with a nationwide branch network, Global IME Bank operates 352 branches, 384 ATMs, 155 branchless banking units, 68 extension and revenue collection counters, and three overseas representative offices. In total, the bank delivers services to customers through over 1,000 service points, ensuring extensive coverage across all districts of the country.
Apart from offering comprehensive banking services to Nepali citizens, Global IME Bank also facilitates remittance services from multiple countries worldwide, supporting both domestic and international financial transactions.
This strategic partnership aims to strengthen trade finance capabilities for Shangrila Development Bank’s clients, enabling easier access to critical banking instruments for import, export, and other commercial operations, while further solidifying Global IME Bank’s role as a leading trade and financial services provider in Nepal.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
